Ross Stores, Applied Materials rise premarket; Estée Lauder falls

investing.com:

Investing.com — U.S. futures traded lower Friday, ending a difficult week on a negative note as investors fretted over the potential for higher interest rates.

Here are some of the biggest premarket U.S. stock movers today:

Ross Stores (NASDAQ:ROST) stock rose 4.9% after the discount retailer raised annual sales and profit forecasts after beating quarterly estimates, as customers shopped for its cheaper clothing.

Applied Materials (NASDAQ:AMAT) stock rose 0.8% after the semiconductor equipment maker offered up a buoyant forecast as chip demand picks up and governments spend billions on subsidies.

Deere (NYSE:DE) stock fell 1.9%, retreated after gains of over 13% year to date, despite the company reporting strong third-quarter profits and raising its annual net income outlook on strong demand for its large tractors, combines, and precision agriculture equipment.

Estée Lauder (NYSE:EL) stock fell 6.4% after the beauty giant offered up disappointing annual profit and net sales forecasts that were under market expectations, as it faces a slower-than-anticipated recovery in China.

XPeng (NYSE:XPEV) stock fell 6.8% after the Chinese electric vehicle maker forecast third-quarter revenue below expectations and reported a hit to margins following an inventory writedown.

WeWork (NYSE:WE) stock slumped 11.3% after the workspace provider said it will proceed with a one-for-forty reverse stock split of its outstanding class A and class C common stock, which was previously authorized by shareholders.

Farfetch (NYSE:FTCH) stock fell 42.2% after the e-commerce company issued disappointing second-quarter earnings, resulting in KeyBanc downgrading its stance to ‘Sector weight’ from ‘Overweight’.

Hawaiian Electric (NYSE:HE) stock rose